Housing in Canberra is woefully over priced because there are more people trying to find somewhere to live than there are houses to put them in.
And yet. Brace yourselves this might make you angry when you think it through.
Chief Minister Stanhope has announced that the ACT Government is lending $20 million to CHC Affordable Housing so that organisation can buy 90 abodes in Crace to rent out at 74.9% of so called “market” rent.
So… we’re reducing the general housing supply to make a small reduction to the rents of a fortunate few who will be warehoused in Crace.
The answer remains increasing the housing supply. But then the objective is not affordable housing. It’s being seen to do something, anything.